WAAAAH.

much strangeness, much lack of money.

some time ago - eight years or more - i started buying houses, as an investment. my salary was sufficient to cover the difference between the mortgage plus credit cards and the rental income. consequently i was able to continue to purchase, as discounted opportunities, arose, further houses.

with the dotcom crash, that is no longer the case, and i am constantly fighting a battle to secure income or loans to ensure that the mortgages are paid. i guess i made about £12,000 from computing work last year. that is probably a bit optimistic.

the irony is that matters force me to sell the properties - at a time when the uk goverment's actions are scaring the shit out of people, and their chickens are coming home to roost.

after ten years of investment, then IF i manage to sell the properties at market value, i stand to make, after tax, secured loan repayment and mortgage repayment, about ... mmm... £50,000.

despite 17% average property price growth per year, that's a return of £5,000 per year, after shelling out about that amount EVERY TWO MONTHS for the past couple of years.

capital-intensive property investment is _not_ a short-term investment. if i COULD keep the properties (e.g. for another five years), the expected increase in value over that period would make me about.... mmm.... £1million after tax.

forced requirements for selling - not enough income - is a complete bitch.